Japan’s Crypto Exchange Coincheck Set to Add Qtum

Japan-based crypto exchange Coincheck has announced that it will support trading cryptocurrency Qtum (QTUM) on its platform soon.

The exchange currently supports a total of 11 cryptocurrencies. Thus, it will allow users to buy, sell, send and receive the new currency.

Nevertheless, investors will use Qtum for Coincheck’s lending service. By agreeing to a loan contract, they can lend their cryptocurrencies to the exchange. Upon the expiry of the contract, the platform must refund Qtum with an extra annual percentage rate.

Coincheck expands business

Last month, Coincheck has announced expanding its over-the-counter (OTC)
trading service to include Bitcoin and Bitcoin Cash. The platform operates
around the clock.

In April 2019, the company has launched its OTC service to allow
users to trade cryptocurrencies at the best prices.

Accordingly, the expansion allows users to trader five different currencies; BTC, BCH, LTC, XRP and ETH.

In 2018, it was reported that the exchange has suffered a $500
million hack. Accordingly, the firm lost his license to operate in Japan and
was ordered by the government to reapply for a new license.

Founded in December 2016, Coincheck is a crypto exchange working
with Google and Amazon to develop its Dapps platform.

The lawmaker said the mid-year policy guidelines should include the
government’s proposals for a central bank digital currency (CBDC).

Yamamoto said digital currencies could spread rapidly in emerging
countries and help China boost its digital supremacy.

On the other hand, China will likely begin public experimentation
of its first digital cryptocurrency in 2020.

The plans for digital currency/electronic payments (DC/EP) have
witnessed significant developments over the last few years. In addition, the
Chinese government started censoring news about its upcoming cryptocurrency to
release it in the near term.

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Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.

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